In my books and classes on negotiation I specifically recommend long-term flexibility in contracts. As circumstances change, so must agreements between responsible partners. As a professor at the University of California I am deeply disturbed by the growing problem of student loans as portrayed in the graph below. And this graph omits the coming problems of inflation and the associated rise in interest rates. My advice? Skip your April payment. Why? Read more.
Of the estimated $1.4 trillion outstanding as student loan debt most will be repaid. Recently the Economist magazine estimated that of the 43 million Americans with student loans, 7 million (or about 16%) are in default.
Today the nation’s largest lenders, among them Wells Fargo and J.P. Morgan, announced proudly the wonderful benefits to them […]